Deal Tracking Software – How it Can Help You Close More Deals Faster
Deal tracking software allows you to track sales leads. It helps you to analyze the performance and identify areas of improvement for your team. It also helps you organize and prioritize each lead so that you can close more deals faster.
If you pop your head into the office of a salesperson you’ll likely find them working on a whiteboard. Each time a deal progresses either way, they erase the old columns and then add new ones. This process can be time-consuming and difficult to keep track of.
A deal tracking tool can help you get rid of this outdated method of recording and tracking deals. You can manage and build workflows and pipelines that track deal milestones and stages. The software lets you personalize and automate workflows, assign tasks, provide reminders. It is also helpful in focusing on high-priority deals, screening investments in minutes instead of hours, and presenting clear pipeline forecasts that are based on in-line estimates.
Another benefit of a deal management system is that it provides you with central storage to store and connect all your information. This includes information about the investor who is interested as well as other stakeholders. It can even be shared with outside experts for due diligence purposes. Some features include a virtual data room virtual, customized reporting, collaboration and access security.